Document Lgx4kL0kr2x5NKQkkrVr4oxR3

1955 SGP 0032512 m C. ! \ V//' ; : -:n v. ? 4 h I-,-f. ... 1 i /"?. 1 #1 iivi W5 f::L ^? hi -*,* * -Hi r II si 1 ii *** Y[ entv Ni ntn A i * *. J. - i A For Mp yeo)* ended December -31 PLYWOOD COMPANY PORTLAND NBW YORK OLYMPIA AUGUSTA LH SGP 0032513 President's Letter Finance Timber and Raw Materials By-Products Production Highlights Research Sales Products Offices, Warehouses, Plants 'MILLS Summary of Balance Sheets Statistics Record of Operations Ratios Other Statistics Audited Statements and Certificate Plywood Consumption Plywood Growth Comparison G*P Owned Timber Book VbIuc vs Realization Fir Plywood industry Growth Georgia-Pacific Sales Growth .?! S o r ZE >; `H O. d> SGP 0032514 TIMBER H0L0IN6S *4* - SHIPPING LANES MAIN HIGHWAYS - RAILROADS I ;s t? _ Li S. *< Ssti p g 1 iQ ]0< ,X $ fb. o C3 Oj SGP 0032515 Choke timber being felled in G-l> liniberlnmis. G iOi X a> Increased timber reserves for both the Company's Western and i Southern plants, as well as reserves for expansion, assure the Company of its source of supply at low costs and give great latitude in long-term planning for the most proliiable utilization of (he timber. In the United States the Company owns in excess of 4 billion feel - of timber, and holds culling rights on upwards of 300 million reel. In addition, the Company holds a preliminary award covering 7.5 billion feel of timber in Southeast Alaska. In acreage, the Company owns in fee, including mineral rights, approximately 150,000 acres of timber lands, largely on the West Coast. Approximately 500.000 acres are covered by the Alaskan award. Loading Feather liner an logs on Company Railroad. The bask objective in the management ofthe Company's timber lands is to securesustatned ykld and thus provide Tor perpetual operations. The best reforestation practices arc followed, and fire and disease control are handled scientifically, thus minimizing the risk of substantial loss. 'csrts* SGP 0032516 Ejr Cft In (he forms shown at tofi of page The Company's harvesting operations are conducted with a view to the maximum utilization of the timber and the ultimate use of all of the forest growth. Increasing quantities or limber will be grown on each acre of land as the mature trees arc harvested. Our Southern operations are conducted on a sustained yield basis, drawing not only from the Company's own reserves but also fromsmall tracts and tree farms owned by others throughout the area of the Company's operations. The limber which was recently awarded Georgia-Pacilic Alaska Co. in southeastern Alaska at Juneau, the capital, is one of the finest virgin stands of timber in North America. It is situated in an area of about 500,000 acres in the vicinity of Admiralty island. Doughs Island and the end of Lynn Canal in southeast Alaska. This 7Vi billion fool stand which will produce 160 million feet of logs per year on a perpetual basis, is comprised of approximately 75 per cent of Wcslem Hemlock and 23 per cent of Silka Spruce with the remainder K Q iO I O 0) SGP 0032517 of ivm> per ccm m miscellaneous \pccics. The umber is located from ihc shore m\ or seven iv.ilcs inland vmiH "5 per ccm of it within two and a half miles 'I itdcmatcr. A network of natural waterways in the area can he ase*! in |os from the loeeing urea to die milk. TIk4 clmtaic. similar to ih.it n Western Oregon and Washington. permits the normal eitiht 10 nine months to^ltin^ season and plani operation and ocean shipping ihrouuhoui -to enure vr. fo understand the true value of the Compani'* holdings. u be cali/cd lhai old-grimth timber has been .n aiimimhint! v,pplv for *.cnrs. < onstamk increasing timber values rctkvt die demand f>'! woml t.rer sor .`mmcroal uses. (uhhI. well.located. acicssihlc timlvi *s a su:id aM cipavi iivcMmcni. and the ( ompan>\ li<diimt:s could not K* UupiivuicJ. \oi v' num >ears:ij:o.dNui iftconlv lonuncrcijJ proaiu :ai*jy"v `">j :miiser was winner. Over iKc p.isi lew occudes a Jiiki o* new prod.*** l*om trees has conic into our wav *! life in iciistanih o;.a:,i.::i,s. ( lov:ui*of Masl.m timber shown .ihow 4 SGP 0032518 Today, when we think or things made from trees, in addition to lumber we think of plywood, veneers, paper, paper products, containers, chemicals, textiles and many other products. In our limber operations we endeavor to utilize the timber harvested to the best possible degree. Our highest quality logs are made into face veneer for high grade plywood. Logs unsuitable for this are made into low grades of plywood for containers and construction purposes. Logs which are not statable for veneers and plywood ate manufactured into lumber. From all of these comes a certain amount of wood waste, which formerly was destroyed by burning. Today it is utilized as a by-product for the manufacture of many of the new derivatives of wood liber. The Company supplements the use of its own timber by purchases of substantial amounts from others. It also purchases special and Taney face veneers, such as mahogany, walnut and birch, for both its Western and Southern operations. Plastic overlays of several types for its plastic-faced plywood and also resins and glues, ate purchased from outside sources. 10 ? S g a p 6 1 P G) iO' : I. 'H O o> un SGP 0032519 .3 H Q ;Of I. Today, (he majority ofour logs prior (o being manufactured intoour products are debarked. The bark is used for fuel in generating steam and electrical power. The remainder of the wood waste from the mills passes through chipping machines and is made into high-quality, dean, bark-free, pulp chips, which we sell under contract to pulp and paper producers. These chips are automatically loaded into open-top boxcars and transferred by rail considerable distances. We are producing about J00 units (cords) of these pulp chips per day. At least 200 additional units daily production ate anticipated through closer utiliza i tion in our Toledo logging operation. It is currently uneconomical to bring in this waste material for manufacture into chips and subsequently transport them great distances to paper milk. The Company has at Toledo, in current and poten tial chip production on a perpetual basis, at least 500 units per day, with the i. possibility of considerable expansion above that quantity. It is logical that the Company should install a pulp and paper mill at its Toledo operations to use these chips to manufacture pulp and paper. The sale of 500 units of pulp chips per day will gross about $900,000 per sear. On an annual basts, these same chips will yield approximately 90.000 tons of krai) paper and board which, at current prices, would produce gross sales of approximately Sl0.000.000. The Company believes, and its engineers agree, (hat these by products will play an increasingly important pan in Georgia-Pacilic's earnings. Wood scrap is comrscd I to chipper. Ckanchips an- asailablc Tor pulp manufacture. SGP 0032520 ^:7I~' | In 1935 our pbnts broke all previous production records and operated at maximum efficient). Corapan) property is all in peak condition and is constantly being improved. Important new equipment as well as new manufacturing techniques acre utilized. Record production was effected partially by the resultant increased efficiency and partially by the steady stream of high-quality logs and veneers that were made available by our Timber and Logging Division throughout the year. The long-term timber harvesting program has enabled the Production Department to plan many months ahead on its production schedules both as to deliveries, and to the specific items of manufacture. These factors have thus enlarged profit margins. There were no work stoppages at any of our operations and our bbor relations are excellent. There is general accord as to renewal of union con tracts. which expire in the Spring of 1936. It is contemplated therefore that 1936 will show an increase in the (low of our products to the trade through our national distribution system. During the year, in conjunction with our Feather River purchase, a new operation was acquired which is engaged in the production of quality Sugar Pine and Ponderosa Pine for our trade. The construction or a new plywood manufacturing unit at our Toledo. Oregon, operations is under way and it isexpectedtobe nt production during 1936. Engineering and planning is being done in connection with the con struction of a paperand paperboard plant at Tolcdoof250-lonsdailycapaciiy. < Additional studies are being conducted for the future construction and opera tion ofa pulp mill at Juneau. Alaska. ! We arc producing an increasing volume of specialties. 1933 set a new record in this connection and it is contemplated that, aided by our sales re search. this will be further increased during 1936 with resultant increases in profit margins. GPV I'l.islk.'-Lhi'tl Phunod in Imi press. Toledo. Oregon, plant. M fl P Q :0< X Olympia. Washington, plants. 0) Savannah. Georgia. planL Sprmerickf. Orewm. pbni. SGP 0032521 ' .-jj .~ .'I..' 9LYWOOP COMP ANY AND SUBSIDIARIES /T n i K- > 4 [; l:<, t. ?r 1 i Hienii^ht' orr 'U Increased tales lo J9I.966.004--i 33% increase over Ihe previous year. Increased earnings (o SJ.06 per common share. Paid dividends on common stock of J1 per share in cash and 6% in common stock--2% in each or the last three quarters. Increased our timber reserves by approximately 100 million feet exclusive of annual growth and the Oregon-Mesabi tract which was reflected in our 1934 reserves figure In addition, we received s 50-year preliminary award covering 7.J billion feet of desir able timber near Juneau, Alaska. Acquired Feather River Pine Milts, Feather FalK California. Established new production records at all (Hants. Commenced the construction of a new plywood production unit at Toledo. Oregon, lo be completed during 1956. !0 :0< : X\ i In order lo provide a convenient statistical reference, this center fold section contains a summary of Balance Sheet statistics, a nine-year comparative record, operations, ratios and several graphical representations relative to the Companyand its operations. ,nj Aj Mf * 13 SGP 0032522 >f 210 a ? sg at s PgC?2S i J 22 Prcfinishcd Savannah Oak Paneling. C-P Douglas Fir Plywood. Georgia-Pacific, with (he country's largest productive capacity of Douglas Fir Plywood, produces all types and grades, interior and exterior, by the most up-to-date precision manufactur ing methods. GPX Plostlc-Foced Plywood. This satin-smooth, armor-hard plywood provides extra strength and long life under a variety of rugged service conditions. It has had wide acceptance .1 construction and industry. Available in GPX General Use, GPX Concrete Form and GPX Green for a superior painting surface. G-P Ripplewoc The low-cost textured dccoraliv.. wall paneling available in standard panels and squares for staining sir attractive twsxoal finishing and also in standard sice V-Groovtd pands. G-P Sfrlalod Plywood. A new. improved decorative panel in the popular striated pattern. Available in standard panels and squares. G-P Hardwood Plywood on Fir Core. A wide variety of line Hardwood face veneers processed vsith Fir cores to provide attractive moderate price decora tive plywood panels. G-P Glonl Scarfed Panels. Literally, (he "new dimen sion" in Fir plywood. G-P Scarfed Panels can be produced in any required length--have been made up to feel long. C3 Oj SGP 0032523 -r-- V* 3M 1 G-P Hardwood Plywood. Top quality slocurative lurduood plywood marketed as G-P Crownply and available in a widevaricty of species, bothdomestkand esotic woods. G-P Pis sheet is a utility Hardwood pis stood which pros ides a superior panel for Mihtlixinnp. nxil decking and sheathing. G-P Savannah Oak Paneling. An cttclusitu prelinishcd wjll paneling of random width pis stood planks produced front genuine Southern (Ink available in I lonet -tone or Blond. This new product D designed for application with a patent-applied-for clip system. Also -nailable is a s ancle of pretmishcd mouldings, all in inn[chine Oak. fora complete wall paneling installation. G-P Preflnished Hardwood Paneling. licaulifulls factors -finished genuine Hardwood wall paneling as till able m \-Grs>osed HireIt and the csclusisc \ -Cirsxwed Red Gum. a G-P Soulharn and Appalachian Hardwood Lumber and Timbers. A complete range i-f species and lectures produced at G-P nulls proside scicmiliculls nianuf.nitircd product* both kiln dried and air dned. Tidewater Red Cypress lumber. (icmnne cvtstaloldgrowth lied repress in all thicknesses and grades. G-P Southern Pine Lumber and Timbers. I op quaint Southern Pine products manufactured tsi evicting st.indjrsls in m<>dcrn mills. Kiln dlicd and air dneu. tiP\ PlaOk'-iaced Phwsisvl i- tsijcli i.sesl in numic field. SGP 0032524 ?| 3 Q \ RiprJeuond (cmutvsJ (vinclmii. t-|* I .U'-imv pUuotM koo.il !i **i!Hn' *\iu:i*ns <-!* Siruica l'jiuinc t } I SS3S^ o r G-P Genuine long leaf Yellow Pine Lumber and Timbers. (knritui-Paciik has kmc specialized in (he production ihk strong. duraMo lumber and timbers in both kiln dried and air dried. G-P Weslem Lumber and Timbers, A, full line of lumber ,i lulluuKtn punfueod in a wide* .triciv of native Western nood* from uwilitv controlled mills. G-P Doors. \ wide ranee of I ir .md Hemlock panel doors including the cvdiisisc t<!' Decorator Door. j> nell as an extensive Ime of llaroui^d flush druirv screen, caracc and storm duots. G-P Mouldings and Trim. Souths :n and Western Pine Mitildmps jnd Tnnt in a wide winds of patterns. G-P Poles and Piling. Southern .i:m Modern species; pi>k> and pi'mev i.nlr<\ui is1' .mo limber*. available W JiMne^iH. and export (be. Treated Lumber and Timbets. I * *u:cd lumber. umber. js.sk> prime snss^nc nlaiu i*'*: '-e* isjiLiNc for expon .md donuNltc -.apment. Flooring.M:plc.O-s.lVs.J!i.inai :;*j' pcv:csrorindi:v n:ui. um;inr!.il. 'a:(iuiiHNta1 *sui evidential slowing. Hardboards. \ s.'iopkte hnc 01 *j:dhoard product* iiKhulinu oantLoJ p.uieb a* l'cn .1* 'Pccul striated and cornscjkv pane!'. G iO' I. C3 Hj Uj SGP 0032525 / < PUWOO D r. < / .' COMPANY AND SUBSIDIARIES General Officer Equitable Building; Portland. Oregon Southern Division Southern Finance Building, Augusta. Georgia Executive and Advertising 270 Park Avenue, Niw York, New York SALES OFFICES AND DISTRIBUTION WAREHOUSES Aktau. Ohio, 1069 Dublin Street Atlanta, Ga. 141 Carnegie Way, N.W. Augusta, Gt.. 753 Broad Street Baltimore, Md,, 731$ Severn Street Bluings, Mont, Bernard St., Northern Pacific Industrial Site Boston, Mass., Ml bacon Street, Waltham. Mass. Chicago, 1B,, 454$ North Broadway ISO) Bryn Mgwr Avenue Cleveland, Ohio. 4832 Ridge Road Columbia, SC. 1099 Berea Rood Detroit^ Mich, 5139 Lontine Avenue Easton, Md.. Terminal Warehouse, Kemp Lane Fort Worth. Texas, 1114 Texas A Pacific Building Hatfield, Pa, HalT Valley Road Jackson, Miss, 1001 Terr; Road Lancaster, Pa, 230 North Plum Street Long Branch, NJ, 174 Branchport Avenue Los Angeles. CnHf, 14416 Victory Btvd.. Von Nays Meriden, Conn, 14 Cherry Slim Mihrsukee. Wise, 1229 W. Greenfield Avc, West Allis New Castle, Pa, Cherry Street Extension New Hyde Part. N.Y, Secood Avenue ind4ib Street New (Mam. La, 301 City Part Avenue New Vort. N.Y, 931 Couftbndc Avenue Olympia, wash, <00 North Capitol Wsy Pasco. Wash, Pasco Air Base Philadelphia. Pa., Pier 179 North, Delaware River at Allegheny Avenue Phisburgh, Pu, 33rd Sl and Liberty Ate. Port Newark. NJ, 102 Marsh Street Portland. Ore, Equitable Building Providence. R.l, Hartonide Industrial Pait Salinas. Chid, Sanborn Road at Industrial Avenue San Jose. Calif. 345 Sunol Street Seattle. Wash, 410 Terry Avenue North Spokane, Wash, 3420 North Regal Street Toledo. Ohio, 824 Laskey Road Vineland, NJ. 4|70sTotd Street plants Bellingham. Washington Father Fads. California Hoqutun. Washington Olympia, Washington (3 plants) Springfield, Oregon Toledo. Oregon (2 plants) Cleveland. South Carolina Dumas. Arkansas Fairfax. South Carolina Jackson. Mississippi Savannah, Georgia Stedwood. Alabama Associated Mils an the Pacific Coon amithroughout die South. OiO' X; 'h' b O) C3 nj -c on i SGP 0032526 irttiiW M i SGP 0032527